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The second-largest cryptocurrency has hovered around $2,500 over the past several days, with some analysts predicting a decisive breakout above that level and a surge to much higher ground.<\/p>\n
Others remain cautious, expecting ETH to head south to around $2,000 before starting a bull run.<\/p>\n
According<\/a> to X user Ted, ETH is moving towards the $2,550 resistance again, anticipating a pump to $3,000 once the asset initiates a strong weekly close above that zone.<\/p>\n Michael van de Poppe shared a similar thesis, suggesting<\/a> that if Ethereum tests the $2,520 area and starts to break upwards, it could climb all the way to $3,000. For their part, X user TRACER noted<\/a> that the asset has recently tested the $2,500-$2,550 range six times, with each rejection getting weaker.<\/p>\n “This resistance will break soon,” they predicted.<\/p>\n<\/blockquote>\n MikybullCrypto appears to be the biggest optimist. The analyst opined<\/a> that a “mega breakout” of the nine-year trendline resistance is on the way, setting the stage for a possible explosion to a new all-time high of $9,000.<\/p>\n The declining amount of ETH stored on exchanges supports the bullish theory. Just a few days ago, Ali Martinez disclosed<\/a> that over 116,000 coins (worth nearly $300 million) were withdrawn from centralized platforms in 48 hours.<\/p>\n “With exchange supply shrinking this aggressively, the setup for a major move is getting interesting,” he explained.<\/p>\n<\/blockquote>\n The analyst also highlighted the major support zone around $2,475, where roughly 2.86 million ETH have previously exchanged hands. “As long as this level holds, the path toward $2,722 remains relatively clear,” Martinez said.<\/p>\n The growing institutional demand reinforces the bullish perspective. Last week, spot ETH ETFs attracted<\/a> almost $220 million, and cumulative total net inflows now surpass $13.17 billion.<\/p>\n X user Void claimed<\/a> ETH has formed an inverted head-and-shoulders pattern on the daily chart, and that one leg down will confirm the setup. That said, the analyst expects a potential drop to $2,000, saying that without this move south, “we can’t go higher.”<\/p>\n Gerla offered a similar perspective. The analyst noted<\/a> the formation of the aforementioned structure, anticipating a short-term correction to around $2K, followed by a major rally above $4,000 in the coming months.<\/p>\n The post Ethereum (ETH) at a Crossroads: Jump to $3,000 or a Plunge to $2,000 Comes Next?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n\n
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Pullback Ahead?<\/h2>\n
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